AML Compliance for CQS Practices - Meeting Your Regulatory & Quality Standards

Introduction

There has been a significant amount of publicity recently in relation to the SRA fines against practices who have been unable to demonstrate compliance with their obligations under the Money Laundering Regulations.

As a CQS accredited practice, firms have obligations under the quality standard to ensure your AML policy meets the requirements of Anti Money Laundering legislation and therefore could face additional sanctions from The Law Society.

This virtual classroom seminar will not only help you understand your obligations under CQS (and Lexcel if applicable), but the session will also provide an insight into SRA Thematic Review audit outcomes which have not been published as a sanction against a firm, however have been identified as internal failings within practices during their SRA inspection.

This unpublished information will assist practices in identifying the common areas where improvements ought to be made to effectively demonstrate compliance with SRA expectations, in addition to the headline AML non-compliances.

The session will be delivered by Tracy Thompson, former CQS Lead Assessor.

What You Will Learn

This live and interactive course will cover the following:

• Identify the overlap between regulatory AML requirements and CQS/Lexcel quality standard obligations
• Gain clarity on how non-compliance with AML regulations can lead to SRA fines and Law Society action
• Learn how to ensure your AML policies and procedures meet both statutory and accreditation standards
• Discover the most frequent areas of AML non-compliance within CQS accredited law firms and how to proactively address them
• Learn practical steps to demonstrate AML compliance during an SRA inspection

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.